20100716 0932 Global Market News.

Dollar weakens on U.S. data, Asia stocks dip
HONG KONG, July 16 (Reuters) - The dollar fell and Asian stocks dipped as the U.S. economy showed further signs of slowing, while the euro appeared poised for further gains after breaching key resistance levels.
"The micro base for the U.S., including things such as the Intel results earlier this week, is pretty good, but the macro base really isn't, and this is raising a lot of concern about the U.S. economy," said Yutaka Miura, senior technical analyst at Mizuho Securities.

World stocks end flat on BP, Goldman; dollar offNEW YORK, July 15 (Reuters) - World stocks staged a late-day surge to end flat on Thursday following positive developments at BP Plc   and Goldman Sachs , while the dollar fell broadly on downbeat U.S. manufacturing and inflation data.
"In essence, you'll have 'closure' on two issues," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey. "An announcement along the lines of BP's announcement, and the Goldman Sachs issue closed, if that's what it is, that would help the tone of the market quite handsomely."

Jul 16 (Reuters) - Google profit misses as expenses surge.

July 15 (Bloomberg) -- JPMorgan Chase & Co., the second-  biggest U.S. bank by assets, said profit rose 76 percent, higher than analysts expected as provisions for soured mortgages and credit-card loans declined. Second-quarter net income climbed to $4.8 billion, or $1.09 a share, from $2.72 billion, or 28 cents, in the same period a year earlier and from $3.33 billion in the first quarter, the New York-based company said today in a statement. The per-share earnings compared with an average estimate for adjusted earnings of 71 cents projected by 22 analysts surveyed by Bloomberg. 


World stocks slip, yen rises after Fed
LONDON, July 15 (Reuters) - World stocks slipped from a three-week peak  while the low-yielding yen rose after the Federal Reserve suggested additional measures may be needed to combat a weakening economy.
"On one hand, we have very strong company results. On the other hand, we have lingering doubts about the pace of the economic recovery," said Luc Van Hecka, chief economist at KBC Securities.